Guideline Value for BASIN ROAD

Basin Road guideline value

The current guideline value of Basin Road in Thiruvottiyur village, under the Thiruvottiyur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Basin Road has changed

The guideline value for Basin Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 383 per sq.ft, which increased to Rs 451 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,000 per sq.ft in 2007, and it further increased to Rs 2,000 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft. The 2023 revision saw a rise to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the current value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 474%. There are no figures available for any revisions other than those mentioned above for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Basin Road's 2024 figure below this median.

• B.B.Tharka Road: Rs 2,800 per sq.ft (2024)
• Balakrishna Nagar: Rs 1,900 per sq.ft (2024)
• Bharathi Nagar: Rs 3,300 per sq.ft (2024)
• Bakthavasalam Nagar (Tsr Nagar): Rs 3,700 per sq.ft (2024)
• Baharathiyar Street: Rs 3,300 per sq.ft (2024)
• B.Sathanthapuram: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Basin Road

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Basin Road?

The Sub Registrar Office that covers Basin Road is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruvottiyur

The guideline value is a crucial factor in the registration process of properties in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, which are necessary for the legal transfer of ownership. This ensures that both the buyer and seller are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Basin Road?

The current guideline value of Basin Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 383 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 474% over the years.

What is the land classification for Basin Road?

The land classification for Basin Road is Commercial Class I Type - III, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for properties on Basin Road?

For a 1,000 sq.ft property on Basin Road, the total stamp duty and registration fees would amount to Rs 1,98,000, based on the current guideline value of Rs 22,00,000.

Where is the Sub Registrar Office for Basin Road located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019, and it handles registrations for properties in this area.